If You Want To Move In June - You Need To List Your Home In February
I know the topic of conversation right now is not School registration or the State Fair. It's more like "What size snowblower do you have?" But National surveys tell us the biggest reason people move is SCHOOLS.
If you are wanting a new school district for your kiddos this upcoming school year and need to sell your house first, you will need a sign in your yard very very soon!
2 things you need to know
if you need to sell your home THEN buy another home in time to register for school.
- Average days on market for your subdivision or for homes like yours in your area
- How long it takes to close on a house once you have a contract.
In Springfield, the average days on market (DOM) has been around 100 days the past few years. It has ranged from 98 to 121. There are some subdivisions that average 28 days (which is excellent!!). Your Realtor (uh hmm - ME) can provide this information. For this scenario let us go with 60 days to sell your house.
You've listed. You have a contract. Now it takes at least 45 days to close. If you have a cash buyer, then all this changes. We are assuming your buyer is financed through a bank.
If that closing time causes you to gasp - I know! People will tell you they closed on their home in 28 days ... well, I won't call them a liar, but since OCTOBER 3rd, 2015, the industry and it's standards shifted, mostly with the banks - which are an important part of the transaction. Many people you talk to may have bought and sold in the OLD way. Realtors don't set these time frames - banks do!
Just smile and say "That must of been nice."
Back to the current day issue - School registration is early August. Let's say Aug 1.
Sooooo, You would need to list your home on or before Feb 15th, allowing 75 days to sell. You would need a contract on your home by May 1st which gives 60 days to close to land on June 30th.
It's hard to think of school registration in January, but if that is your driving force to move, a winter listing is in your best interest. The above time frame is a bit padded and can be shortened if necessary, but also might take longer depending on the sale of your home. Although your home could close in 45 days, I gave you an extra 15 days to find your next home.
Putting your house on the market mid to late February, puts your home out BEFORE the Spring rush, so you hit the market a few strides before the competition (because EVERY other listing is your competition). If you need that new address for school registration, then we've given you ample time to sell, find a house, move in and go on a vacation, register for school and enjoy the state fair!! Let me say, from personal experience, moving the weekend before school starts is stressful (....sophomore year for me!!), so lets get you in that next home in plenty of time.
If this fits your situation, lets talk as early as January, sometimes it can take a month to get a home ready for market, let me help you with the to-do list so you are spending time and money on the most important - buyer-friendly- tasks.
You can contact me by email, phone or social media to discuss anything in this post or anything else on your mind.